Genoa's Sub Markets

Genoa

Market Report

Median rate is a number derived from the median rate of listings posted on 42floors and reports from thought leaders in the area.

Median Size (sqft)

1,570

Genoa Office & Commercial Space

Located in DeKalb County in the state of Illinois, Genoa is a relatively small community, featuring a residential population of slightly over 5,000. Thanks to a largely middle-class population, Genoa provides business owners and entrepreneurs with the opportunity to establish the foundations for future economic success in the state of Illinois. Both office and commercial spaces for rent in Genoa can be obtained quite affordably and the rental properties are perfect for those who are seeking to develop a positive influence in the neighborhood zones of this wonderful community.

Genoa Economic Overview

With median household incomes situated only slightly below state averages, the population of Genoa is largely considered to be within the middle class / lower-middle class bracket, employed in a wide variety of occupations including manufacturing and construction, among others. Unemployment levels in Genoa remain in close proximity to double-digits, due in large part to the area’s reliance upon manufacturing-related employment which was severely affected during the 2008 financial crisis. Regardless, unemployment here is still markedly below state averages. A relatively low cost of living allows residents of Genoa to take full advantage of the businesses and local establishments found here.

Genoa At A Glance

The origins of Genoa can be traced back to 1835, when Thomas Madison began the first settlement attempts in the area. Genoa was officially incorporated as a village in the state of Illinois in 1876, and was later re-incorporated as a city in 1911. Demographically, Genoa is almost exclusively Caucasian, with only 5% of the population representing additional ethnic groups. The majority of the population found here consists of married couples, with 41% of these individuals caring for children under the age of 18. It’s not uncommon for residents of this community to regularly commute to locations around the county for both work and entertainment.

Where To Lease In Genoa

Due to the relatively small size of this community, business owners are likely to benefit immensely with a rental property situated in the downtown area of the city. That being said, the small geographical size of Genoa also allows for complete integration with the community from numerous locations. Individuals interested in establishing manufacturing-related businesses may also benefit from larger properties found on the outer periphery of town.